Vitesse
Semiconductor and Nu Horizons Announce Exclusive Distributor
Agreement
Enhanced
Distribution Will Reach More Customers while
Providing Additional Field Support to OEMs
Camarillo,
CA and Melville, NY - (September 26, 2001) - Vitesse
Semiconductor Corporation (NASDAQ: VTSS) and Nu Horizons
Electronics Corp. (NASDAQ:NUHC) today announced an agreement
under which Nu Horizons will become the exclusive distributor
of Vitesse's extensive line of chipset solutions for communication
equipment manufacturers. This agreement, effective October
1, 2001, encompasses selling rights for North America.
Vitesse's
new and existing customers will benefit from a simplified
approach to doing business with Vitesse, including easier
access to technical support, design services and ongoing
applications support through Nu Horizons local field application
engineers. Customers will also have immediate access to
key logistic and value-added services, as well as excellent
fulfillment services from Nu Horizons state-of-the-art
stocking facilities.
"Nu Horizons is a leading world class distributor
providing design creation and support, as well as logistic
services, for its customers," stated Richard Riker,
Vitesse's vice president, sales and marketing. "Over
the past five years, Vitesse has made significant efforts
into developing complete chipset solutions, from the fiber
to the backplane. Nu Horizons, with their unique position
in the marketplace, will not only be able to dramatically
expand Vitesse's current business, but increase the business
opportunities with new customers," concluded Riker.
"Vitesse's high-speed integrated circuits are immensely
synergistic to our existing line of highly technical products,"
adds Dave Bowers, vice president, marketing, Nu Horizons.
"The addition of these industry leading devices to
our current product offering positions Nu Horizons to
support our customers earlier in the design process and
enables us to provide our existing customers and new customers
with complete end to end chipset solutions."
About
Vitesse Semiconductor Corp.
Vitesse Semiconductor Corporation is a leading designer
and supplier of innovative, high- performance integrated
circuits (ICs) and optical modules used in next generation
networking and optical communications equipment. The company's
products address the needs of Enterprise, Access, Metro,
Core, and Optical Transport network equipment manufacturers
who demand a robust combination of high speed, high service
delivery and low power dissipation in their products.
In concert with its broad communications product portfolio,
Vitesse also develops ICs for storage area networking
and enclosure management. Vitesse is headquartered in
Camarillo, Calif. and operates two fabrication facilities;
one in Camarillo, the other in Colorado Springs, Colo.
Company and product information can be found on the web
at www.vitesse.com or is available by calling 1-800-VITESSE.
About
Nu Horizons Electronics Corp.
Nu Horizons is a leading distributor of high technology
active components, including analog, communications, discretes,
optical, logic & peripherals, memory, microcontrollers,
specialty products and sub-system products to a wide variety
of commercial original equipment manufacturers (OEMs)
throughout North America. With sales facilities in twenty-eight
locations, Nu Horizons partners with a limited number
of the best-in-class suppliers to provide in-depth product
and solutions expertise to its customers. Information
on Nu Horizons and its services is available at www.nuhorizons.com.
Except
for historical information contained herein, the matters
set forth in this news release are forward looking statements
that involve certain risks and uncertainties that could
cause actual results to differ from those in the forward-looking
statements. Potential risks and uncertainties include
such factors as the level of business and consumer spending
for electronic products, the amount of sales of the Company's
products, the competitive environment within the electronic
industry, the ability of the Company to continue to expand
its operations, the level of costs incurred in connection
with the Company's expansion efforts and the financial
strength of the Company's customers and suppliers. Investors
are also directed to consider other risks and uncertainties
discussed in documents filed by the Company with the Securities
and Exchange Commission.
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